Mortgage Financing Options

Financing Options To Fit Your Plans and Budget

At Home State Bank we have a lot of mortgage options available to us, which means we can find the mortgage that’s right for you.  Take a look and see which ones fit your plans and budget. 


Fixed-Rate Mortgages 
Fixed-rate mortgages have a constant interest rate and monthly payments that never change. 

First-Time Homebuyer Program (Minnesota Housing Finance Agency (MHFA)  
Home State Bank is an approved lender for Minnesota’s First-Time Homebuyer Program, helping families finance down payments, closing costs, and home repairs.  Contact your mortgage expert today for more information. 

Rural Development Guaranteed Loans (RD) 
Home State Bank is an approved lender for the USDA Rural Development Guaranteed Loan program, helping people become homeowners by insuring mortgages.  There are lots of reasons to ask your Home State Bank mortgage expert for an RD loan:

  • Great for First-Time Home Buyers
  • 100% Financing (including Closing Costs)
  • No Down Payment Requirements
  • No Prepayment Penalties
  • Low Rates
  • Existing Homes, Foreclosures and New Construction. 


Home Equity Loans and Lines of Credit  
An option for when you want to use the equity in your house for home improvement projects, a new vehicle, a recreational purchase, or a ‘just in case’ cushion. Home State Bank offers fixed rate loans along with monthly payment plans to make this an affordable option for you.


Minnesota Housing Fix-Up Loan Program 
Home State Bank is an approved lender for Minnesota’s Housing Fix-Up Loan Program.  Fix-Up provides fixed interest rate loans for home remodeling, repairs, accessibility needs, and energy efficiency improvements.  The program offers secured loans up to $50,000 and unsecured loans up to $15,000, with repayment terms up to 20 years.